Ford Foundation Welcomes Richard R. Verma to Board of Trustees
The Ford Foundation has recently announced the election of Richard R. Verma to its Board of Trustees. Verma, who is set to take on the position of chief administrative officer at Mastercard, previously served as a trustee from 2022 to 2023.
A Wealth of Experience
Richard R. Verma is no stranger to significant roles in both government and the private sector. His impressive resume includes serving as the United States deputy secretary of state for management and resources and as the U.S. ambassador to India from 2014 to 2017. At the Ford Foundation, his vast knowledge will be instrumental in driving efforts for equity around the world.
Commitment to Global Equity
Verma expresses excitement about returning to the Ford Foundation, stating his eagerness to advance equity globally. He understands that this moment is critical in the ongoing fight against inequality and upholding the dignity of all individuals.
Board's Vision and Leadership
Francisco G. Cigarroa, Chair of the Ford Foundation Board of Trustees, welcomed Verma back, noting his extensive experience and leadership qualities. Cigarroa emphasized how Verma's wisdom and intellect will contribute to the foundation’s efforts aimed at reducing poverty and injustice.
Honoring Legacy
Verma has deep ties to the Ford Foundation, attributed to his father who immigrated from India to the United States in 1963 on a Ford Foundation fellowship. This connection to the organization fuels Verma’s commitment to addressing issues of equity and social justice.
The Role of the Ford Foundation Trustees
Trustees at the Ford Foundation are elected to serve six-year terms, and they play a critical role in shaping the foundation's policies relating to grantmaking and governance. They are chosen for their substantial experience across various sectors, ensuring that the foundation's oversight is grounded in expertise and informed perspectives.
About the Ford Foundation
The Ford Foundation operates as an independent organization dedicated to tackling inequality and fostering a just future. For over 85 years, it has supported those leading social change, with a mission to fortify democratic values, diminish poverty, and encourage international cooperation. Its substantial endowment of $16 billion funds initiatives spanning across various regions, including Africa, Asia, Latin America, and the Middle East.
Frequently Asked Questions
Who is Richard R. Verma?
Richard R. Verma is a former U.S. ambassador to India and a current board member of the Ford Foundation. He has extensive experience in government, law, and international relations.
What is the mission of the Ford Foundation?
The Ford Foundation aims to address global inequality and build a just future by promoting democratic values, reducing poverty, and supporting social change initiatives.
How long do Ford Foundation trustees serve?
Trustees are elected to serve six-year terms, contributing to the foundation's governance and strategic direction.
Where are the Ford Foundation's regional offices located?
The Ford Foundation has offices around the world, including regions in Africa, Asia, Latin America, and the Middle East.
What significant roles has Richard Verma held prior to joining the Ford Foundation?
Before joining the Ford Foundation, Richard Verma served as the U.S. deputy secretary of state for management and resources and was the general counsel for Mastercard. He has also held various influential positions in U.S. government and policy-making.
